1 trillion dollar coin!!!!!

what in the world????..............

[finance.yahoo.com]

Sorta like high end Monopoly money?

If they start making coins like that a man could retire medal detecting. They could be lost like the worthless zink.

How on earth? Yes it's legal but... it's how we got in this mess! The Fed and LIBOR have reduced the value of the dollar quite enough already! Lets just print some more! This is the Central Banks taking the money from our pockets and pouring it into theirs!

Even if it was made of platinum as the article related... it would have to be bigger than a man hole cover!



Edited 1 time(s). Last edit at 01/05/2013 12:42PM by NEBeachcomber.

Even a manhole cover sized platinum coin wouldn't be worth a trillion, platinum fetches less than gold by weight. The coin they're proposing is merely symbolic. Just like a $100 bill. What it's printed on is worth no more that what a $1 bill is printed on. What they are alluding to is the concept of a minted in platinum coin and it's STATED value. Since much of the 16 trillion dollar debt we have is from interest unfairly derived by the central banks, it's imaginary already. Why not mint a coin that represents a trillion $ as such? It would take someone with platinum testicles to pull it off!

I found the explanation to this concept:

"Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time. Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination."



Edited 3 time(s). Last edit at 01/05/2013 07:00PM by Blissterd1.

In 2007, the Royal Canadian Mint released an extremely limited number of the largest legal tender coins in the world: a 220-pound (100-kilogram) gold bullion piece with a face value of one million Canadian dollars. Certified by the Guinness Book of World Records as the world’s largest gold coin, the amazing million-dollar pieces are composed of 99.999% pure gold.
Today you can purchase for 69,000$ a [www.mint.ca] .
Would make a nice gift for that special metal detectorist in your life!!!!!

Cheers.

Bob
Nova Scotia
Omega w 11" & 5" DD, 10" Con.
Cibola, Compadre
6000/D GEB Coinmaster

If you live in Washington, D.C., and they mint that $1 trillion coin, you should start hunting the sand boxes around the Treasury Building a couple times a day.

Once inflation begins to spiral out of control the $1 trillion coin should devalue to become more affordable. Probably could buy it off e-bay for $500 billion in a few years.

It should have Obama on the obverse and Nancy Pelosi on the reverse. The motto above should say "In big government we trust". When you drop the coin on the table it should make a hollow, characterless sound that reverberates in a shrill irritating manner.

This should tell you a bunch...


[www.zerohedge.com]

Proposed by Jerrold Nadler, U.S. Representative for New York's 10th congressional district, and quickly dismissed by the WH.

But here's the trillion dollar question: how long would this fund an invasion of Iraq?